Jacobs Levy Equity Management Inc. Cuts Stock Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 10.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,123,308 shares of the biopharmaceutical company’s stock after selling 136,709 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Sage Therapeutics were worth $6,100,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its position in Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 3,581 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Sage Therapeutics during the fourth quarter valued at about $49,000. Ieq Capital LLC purchased a new stake in Sage Therapeutics during the fourth quarter valued at about $57,000. US Bancorp DE boosted its position in Sage Therapeutics by 22.3% during the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 2,268 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in Sage Therapeutics by 21.6% during the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 2,446 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Friday, April 25th. Wedbush reaffirmed a “neutral” rating and set a $6.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Scotiabank lowered their price objective on shares of Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 12th. Bank of America assumed coverage on shares of Sage Therapeutics in a research note on Tuesday, March 11th. They set an “underperform” rating and a $5.00 price objective for the company. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective (down from $14.00) on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.81.

Sage Therapeutics Price Performance

SAGE stock opened at $6.61 on Wednesday. Sage Therapeutics, Inc. has a 1 year low of $4.62 and a 1 year high of $13.47. The company has a market cap of $413.92 million, a P/E ratio of -1.00 and a beta of 0.20. The firm has a 50-day moving average of $7.49 and a 200 day moving average of $6.74.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. The business had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. During the same period in the prior year, the business posted ($1.80) EPS. Sage Therapeutics’s revenue for the quarter was up 78.0% on a year-over-year basis. On average, equities research analysts expect that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Sage Therapeutics Company Profile

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression.